Health Assessment Systems Inc.
Follow- Proceeding
- NOIPart III of the Bankruptcy and Insolvency Act
- File
- 25-1834420
Health Assessment Systems Inc. filed a notice of intention to make a proposal under Part III of the Bankruptcy and Insolvency Act on February 4, 2014, with Grant Thornton Limited as trustee, under Court of King's Bench of Alberta file no. 25-1834420. The proceeding remains active. A Statement of Affairs sworn March 5, 2014 puts total assets at $1,521,678.24 against total liabilities of $5,384,864.35, a stated deficiency of $3,863,186.11, with no preferred or contingent claims. The largest claim is Octane Venture Partners' $4,650,291.67, secured since November 8, 2012 over cash, medical and telephone equipment and loan receivables valued at $21,678.24, leaving $4,628,613.43 unsecured on List B. Related party 135482 Canada Inc. claims $500,000.00 on security valued at nil. The proposal treats both as unaffected secured creditors whose claims are not compromised.
The officer filed report no. Trustee's First Report to the Creditors. Health Assessment has ceased direct operations, has no employees, and now functions solely as a holding company dependent on its indirectly-owned Operating Companies, which continue to operate and serve patients while the Proposal is pending. Court file 25-1834420.
Debtor
Health Assessment Systems Inc.
Proposal trustee
Doane Grant Thornton
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Octane Venture PartnersCash on hand/TD Bank, business assets (machinery - medical & telephone equipment), debts due (Glenora Health Loan, Rosedale Loan, security deposits, Shaughnessy Loan); security given 08-Nov-2012 — Estimated value of security $21,678.24; balance of claim unsecured $4,628,613.43 per Form 78 List B; identified as an 'Unaffected Secured Creditor' under the Proposal (not affected/compromised) — debtor: Health Assessment Systems Inc. · as of 5 Mar 2014 | $4.65M | Creditors package - March 12, 2014 |
| 4 | Secured | 135482 Canada Inc.Cash on hand/TD Bank, business assets (machinery - medical & telephone equipment), debts due (Glenora Health Loan, Rosedale Loan, security deposits, Shaughnessy Loan); security given 08-Nov-2012 — Related party/insider security (also appears as unsecured creditor for balance of claim $128,234.71); estimated value of security $0.00 per Form 78 List B; balance of claim unsecured recorded as $500,000.00 — debtor: Health Assessment Systems Inc. · as of 5 Mar 2014 | $500K | Creditors package - March 12, 2014 |
| 4 | Secured | Octane Venture Partners (per Proposal defined term)Secured charges on property, assets and undertaking of the Corporation — Defined in Proposal as 'Unaffected Secured Creditor' alongside 135482 Canada Inc.; claims not affected by or compromised under the Proposal — debtor: Health Assessment Systems Inc. | — | Creditors package - March 12, 2014 |
| 8 | Unsecured | Octane Venture PartnersSame creditor as secured entry; this is the unsecured balance after security valuation ($21,678.24 estimated value of security) — debtor: Health Assessment Systems Inc. · as of 5 Mar 2014 | $4.13M | Creditors package - March 12, 2014 |
| 8 | Unsecured | 135482 Canada Inc.Related party; unsecured claim column shows $128,234.71 while total claim/balance of claim unsecured is $500,000.00 (used total claim column per List A total claim $628,234.71) — debtor: Health Assessment Systems Inc. · as of 5 Mar 2014 | $500K | Creditors package - March 12, 2014 |
| 8 | Unsecured | Sapphire Digital Solutions Incdebtor: Health Assessment Systems Inc. · as of 5 Mar 2014 | $142K | Creditors package - March 12, 2014 |
| 8 | Unsecured | Dial Solutions Group Ltddebtor: Health Assessment Systems Inc. · as of 5 Mar 2014 | $114K | Creditors package - March 12, 2014 |
| 8 | Unsecured | Dr. Samuel Gutmandebtor: Health Assessment Systems Inc. · as of 5 Mar 2014 | $89.1K | Creditors package - March 12, 2014 |
| 8 | Unsecured | Sherlock Consultingdebtor: Health Assessment Systems Inc. · as of 5 Mar 2014 | $87.5K | Creditors package - March 12, 2014 |
| 8 | Unsecured | David Atkinsondebtor: Health Assessment Systems Inc. · as of 5 Mar 2014 | $70.3K | Creditors package - March 12, 2014 |
| 8 | Unsecured | Pricewaterhousecoopers LLP · in 37 casesdebtor: Health Assessment Systems Inc. · as of 5 Mar 2014 | $32.2K | Creditors package - March 12, 2014 |
| 8 | Unsecured | Burstall Winger LLPdebtor: Health Assessment Systems Inc. · as of 5 Mar 2014 | $28.3K | Creditors package - March 12, 2014 |
| 8 | Unsecured | Shapray Cramer LLPdebtor: Health Assessment Systems Inc. · as of 5 Mar 2014 | $15.2K | Creditors package - March 12, 2014 |
| 8 | Unsecured | Healthcare Concierge Servicesdebtor: Health Assessment Systems Inc. · as of 5 Mar 2014 | $12K | Creditors package - March 12, 2014 |
| 8 | Unsecured | Miller Thompsondebtor: Health Assessment Systems Inc. · as of 5 Mar 2014 | $6.55K | Creditors package - March 12, 2014 |
| 8 | Unsecured | Medusind Solutionsdebtor: Health Assessment Systems Inc. · as of 5 Mar 2014 | $5.85K | Creditors package - March 12, 2014 |
| 8 | Unsecured | Bull Housser & Tupper LLPdebtor: Health Assessment Systems Inc. · as of 5 Mar 2014 | $2.79K | Creditors package - March 12, 2014 |
| 8 | Unsecured | Axium Law Corporationdebtor: Health Assessment Systems Inc. · as of 5 Mar 2014 | $245 | Creditors package - March 12, 2014 |
| 8 | Unsecured | CRA - Canada Revenue Agency - Tax - Prairie · in 13 casesListed with $0.00 claim as of Statement of Affairs date; deemed trust/Crown claim category referenced elsewhere in Proposal (Article 4) — debtor: Health Assessment Systems Inc. · as of 5 Mar 2014 | $0 | Creditors package - March 12, 2014 |
“not stated” means the record names the claim without a figure; “—” means not in the extracted record.
Unsecured creditors: paid in full.Under the plan · sanctionedCreditors package - March 12, 2014 · 12 Mar 2014
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Preferred | — | — | paid in full | Under the plansanctionedper the debtor | Creditors package - March 12, 2014 · 12 Mar 2014 |
| Unsecured | — | — | paid in full | Under the plansanctionedper the debtor | Creditors package - March 12, 2014 · 12 Mar 2014 |
Each row is one filing's statement, copied as it reads and never computed. "Estimated" is the officer's forecast; "Under the plan" is the plan's or proposal's own term; "Final" is a declared or paid distribution; a row with no chip states no footing. A range is the two numbers stated; "of proven claims" is the document's own denominator.
As at 7 Feb 2014 · per Book Value (unaudited), as prepared by Company management; the report also separately presents a Statement of Affairs Value as at March 6, 2014 (Total Assets $1,521,678 / Total Liabilities $5,384,864) and an Estimated Net Realizable Value in a bankruptcy scenario as at March 6, 2014 (Total Assets $21,678 / Total Liabilities $5,384,864) · Health Assessment Systems Inc. (the parent holding company) only, not consolidated with the Operating Companies it holds shareholder loans in/owns — Table presents three parallel valuations: Book Value as at Feb 7, 2014 (Total Assets 1,522,889 / Total Liabilities 4,784,741 / Deficiency (3,261,852)); Statement of Affairs Value as at March 6, 2014 (Total Assets 1,521,678 / Total Liabilities 5,384,864 / Deficiency (3,863,186)); Estimated Net Realizable Value in a bankruptcy scenario as at March 6, 2014 (Total Assets 21,678 / Total Liabilities 5,384,864 / Deficiency (5,363,186)). The primary financial position figures reported above use the Book Value column.
Cash on hand
$19.7K
As at 7 Apr 2014Report of Trustee on Proposal - April 7, 2014
| Date | Document | File |
|---|---|---|
Order approving Proposal - April 24, 2014
| ||
Report of Trustee on Proposal - April 7, 2014
| ||
Creditors package - March 12, 2014
| ||
| Certificate of Appointment | ||
| Notice of Intention and Consent | ||
Trustee's Report to Creditors on the Proposal
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Health Assessment Systems Inc.” (NOI), Court of King's Bench of Alberta. Retrieved 20 September 2026, https://proceedings.ca/case/health-assessment-systems-inc